Canadian Financial Close: Loonie stronger ahead of long weekend

By MarketsFarm

WINNIPEG, April 9 (MarketsFarm) – The Canadian dollar was slightly higher on Thursday. Markets will be closed tomorrow for Good Friday.
The dollar finished the day at US$0.7151 or US$1=C$1.3985, compared to Wednesday when it closed at US$0.7126 or US$1=C$1.4034.
The COVID-19 pandemic cost the Canadian economy over one million jobs in March, which was the worst month for employment on record. Original expectations pegged job loss around 500,000.
The TSX Composite Index was up by 240.92 points to close at 14,166.63.
Oil prices were stronger following a meeting between the Organization of Petroleum Exporting Countries (OPEC) to discuss coordinated production cuts. A tentative agreement was made to cut production by 10 million barrels per day. Brent crude oil lost 95 cents to close at US$31.89 per barrel. West Texas Intermediate (WTI) crude oil was down by $1.86 to close at US$23.23 per barrel.

Canada’s agricultural sector fared as follows:
Buhler Industries                unchanged      at $  2.90
Linamar Corp.                    up  $ 1.20     at $ 32.89
Maple Leaf Foods                 up  $ 0.42     at $ 24.44
Nutrien Ltd.                     up  $ 1.23     at $ 51.46
Ritchie Bros Auctioneers Inc.    up  $ 1.61     at $ 54.80
Rocky Mountain Dealerships Inc.  up $ 0.02     at $  4.20
(All figures are in Canadian dollars.)

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